World food prices continued to fall in October, according to the FAO

The food price index compiled by the FAO (Food and Agriculture Organization of the United Nations) fell by 1.6% from the revised level of September, marking the second consecutive monthly decline. The drop in the price indices of cereals, dairy products, meat, and sugar offset the increase in the price index of vegetable oils. On the one hand, the FAO sugar price index was the one that decreased the most in October, with a 5.3% drop from September. The decline was mainly due to "expectations of a large global sugar supply." The index of dairy products was 3.4% lower than the previous month, according to the FAO. The index of dairy products was 3.4% lower than the previous month, thus decreasing for the fourth consecutive month. All sub-indices recorded a drop: butter by 6.5%; whole milk powder by 6%; skimmed milk powder by 4%, and cheese by 1.5%. As for meat, prices fell by 2% since September. After eight consecutive months of increases, the decrease was due to the sharp drop in ...